Jones drops talks on jeans unit sale

Jones Group Inc (JNY.N), a maker of clothing, shoes and accessories, said it has dropped all discussions regarding the potential sale of its jeanswear division.

The New York-based company, whose brands include Anne Klein and Rachel Roy, plans to maintain ownership and normal operations of the division, it said in a statement.

In October last year, Jones said it was in talks with Delta Galil Industries Ltd (DELT.TA), an Israeli private-label clothing maker, to sell its jeans unit for $350-$400 million to focus on its more profitable luxury brands.

Separately, Delta Galil said it continues to actively pursue other growth opportunities.

The company's shares had closed at $9.31 on Friday on the New York Stock Exchange.

(Reporting by Ranjita Ganesan; Editing by Viraj Nair)

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